Negative Pressure Wound Therapy Market Growth Is Attributed To The Increasing Demand For Diabetic Foot Ulcers

According to Precision Business Insights (PBI), the latest report, the Negative Pressure Wound Therapy market is expected to be worth USD 2.8 billion in 2022, growing at a 6.2% CAGR from 2022 to 2028. The global Negative Pressure Wound Therapy market is segmented into the following types: By Product (Conventional NPWT Devices, Disposable NPWT Devices, NPWT Accessories), By Wound Type (Burns and Surgical & Open Wounds, Pressure Ulcers, Diabetic Foot Ulcers, Venous Leg Ulcers, Traumatic Wounds), By End-User (Hospitals, Home Care Settings, Other End Users), and Geography (North America, Europe, Asia Pacific, Latin America, and MEA) Forecast to 2028. Key players' profiles in the Negative Pressure Wound Therapy market report are Acelity L.P. Inc., Talley Group Limited, Nephew plc., Devon Medical Products, Mölnlycke Health Care, Medela, DeRoyal Industries, Inc., ConvaTec, Inc., Cardinal Health, Inc., and Paul Hartmann AG. The rise in accidents and traumatic events increased chronic wounds like diabetic foot ulcers, and technological developments in NPWT devices are some factors propelling the market's overall growth. The demand for NPWT solutions is also driven by a rise in diabetic wounds in humans. The need for treatments incorporating negative pressure wound therapy devices has been boosted in recent years by increasing the prevalence of chronic illnesses like obesity and type I and type II diabetes, aiding the market expansion. The spread has been helped by both a rise in the frequency of fatalities from accidents and trauma and an increase in patient awareness of the availability of low-cost NPWT devices such as single-use NPWT.

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Diabetic Foot Ulcers Segment to Dominate the Negative Pressure Wound Therapy Market:
The diabetic foot ulcers segment is expected to account for a larger revenue share in the global negative pressure wound therapy market, with a value share worldwide. It is projected to grow at a 6.3% CAGR between 2022 and 2028. One of the most frequent effects of diabetes is diabetic foot ulcers (DFU), a problem in many nations worldwide. According to a study by the Nation Center for Biotechnology Information (NCBI), in 2021, there will be between 9.1 and 26.1 million diabetic foot ulcers yearly. Additionally, according to the findings, between 15 and 25% of people with diabetes mellitus may develop a diabetic foot ulcer. Numerous studies have shown that NPWT is effective in shortening the healing time of wounds, and faster wound healing reduces hospital stays overall and prevents the added morbidity of chronic wounds.

Europe Negative Pressure Wound Therapy Market:
The Europe market is expected to increase in the global negative pressure wound therapy market over the forecast period. It is projected to grow at a CAGR of 6.1% in the coming years. With the prevalence of chronic wounds on the rise, a thriving medical tourism sector, expanding NPWT dressing usage, and the availability of cutting-edge healthcare facilities, Germany's market for negative pressure wound therapy is projected to increase substantially in the forecast period. Germany accounted for a notable market share of Europe's negative pressure wound therapy (NPWT), and it is anticipated that this share will increase significantly over the forecast period.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global negative pressure wound therapy market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In November 2021, Smith & Nephew announced its first dedicated medical education center to support customers across the Asia-Pacific Region. The center will have a strong focus on digital and robotic surgery and advanced wound management.

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Detailed Segmentation
Based on the product, the market is segmented into the following:
• Conventional NPWT Devices
• Disposable NPWT Devices
• NPWT Accessories

Based on the wound type, the market is segmented into the following:
• Burns and Surgical & Open Wounds
• Pressure Ulcers
• Diabetic Foot Ulcers
• Venous Leg Ulcers
• Traumatic Wounds

Based on the end users, the market is segmented into the following:
• Hospitals
• Home Care Settings
• Other End Users

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